rish hotel group Dalata says its growing London portfolio drove its UK growth in the second quarter, growing twice as fast as the rest of UK
The owner of the Clayton and Maldron chains saw 23% growth in like-for-like revenue per available room in London, compared to 12% elsewhere in the UK. The group said this was driven both by higher occupancy and higher room rates, after its London locations lagged behind in the immediate aftermath of the pandemic.
Dalata has been expanding in London lately, and is set to have 876 rooms in the capital when the Maldron Hotel in Shoreditch opens.
That helped group profit rise by 24% to €103.4 million (£88.6 million).
CEO Dermot Crowley said: “Our performance year to date has been exceptional, thanks to all of our teams throughout the business, whose commitment and dedication are evident in the results announced today and in the continuous delivery of our ambitious growth strategy.
“We have continued to expand our asset portfolio with the two recent high-quality acquisitions in London which are both performing well.
“This speaks to the strength of our balance sheet and our development team’s ability to identify and deliver additional rooms in times of market volatility and uncertainty.”
Daslata is the latest hotel chain to report booming business, with little sign of the public cutting back spending on travel even as they reduce spend almost everywhere else.
Last week, Travelodge reported a boom in profits as its London hotels enjoyed their best ever night for revenue in July over the first Saturday of Wimbledon, Bruce Springsteen at Hyde Park and Blur at Wembley, Iron Maiden at the O2 and the Weeknd at the Olympic Park. IHG meanwhile, saw a 22% boost to revenue per available room in London.